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[Cites 0, Cited by 0] [Section 5(2)] [Section 5] [Entire Act]

State of Tamilnadu - Subsection

Section 5(2)(b) in Tamil Nadu Electricity Supply Undertakings (Acquisition) Act, 1954

(b)In the case of shares issued on or before the 31st March 1946, if clause (a) does not apply, but there have been bonafide transfers in each of the different classes of shares in every one of the three years aforesaid, and such transfers have been duly registered in the appropriate books of the licensee, the value of each share of each such class shall be reckoned at one-third of the aggregate of its three annual average values for the three years, the average value for each year being determined from the transactions in that year.